KFT Capital: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KFT Capital
Largest movements
- Current investments -€429,807
no longer reported in 2025 (was €429,807)
- Receivables within one year +€132,439
up €132,439 (+357%), from €37,085 to €169,524
of which Trade receivables: +€133,524
- Cash +€100,410
up €100,410 (+194%), from €51,716 to €152,126
mainly Current investments (+€429,807) and Net result for the year (+€180,797)
- Tangible fixed assets -€11,302
down €11,302 (-36.8%), from €30,742 to €19,440
of which Furniture and vehicles: -€10,593
- Receivables after one year -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Reserves -€329,203
down €329,203 (-72.7%), from €452,666 to €123,463
- Other debts +€102,572
new in 2025: €102,572
- Tax, wage and social debts +€23,700
up €23,700 (+16.5%), from €143,229 to €166,929
of which Taxes: +€21,089
- Debts after one year -€11,633
no longer reported in 2025 (was €11,633)
- Gross operating margin -€207,363
down €207,363 (-46.4%), from €447,370 to €240,007
- Taxes -€52,074
down €52,074 (-49.0%), from €106,262 to €54,188
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €614,491 | €399,501 | -€214,990 | -35.0% |
| Fixed assets | 21/28 | €30,742 | €19,440 | -€11,302 | -36.8% |
| Tangible fixed assets | 22/27 | €30,742 | €19,440 | -€11,302 | -36.8% |
| Plant, machinery and equipment | 23 | €2,677 | €1,968 | -€709 | -26.5% |
| Furniture and vehicles | 24 | €28,065 | €17,472 | -€10,593 | -37.7% |
| Current assets | 29/58 | €583,749 | €380,061 | -€203,688 | -34.9% |
| Amounts receivable after more than one year | 29 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Other amounts receivable | 291 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €37,085 | €169,524 | +€132,439 | +357% |
| Trade receivables | 40 | €36,000 | €169,524 | +€133,524 | +371% |
| Other amounts receivable | 41 | €1,085 | - | -€1,085 | |
| Current investments | 50/53 | €429,807 | - | -€429,807 | |
| Cash at bank and in hand | 54/58 | €51,716 | €152,126 | +€100,410 | +194% |
| Deferred charges and accrued income | 490/1 | €5,140 | €8,411 | +€3,271 | +63.6% |
| Total equity and liabilities | 10/49 | €614,491 | €399,501 | -€214,990 | -35.0% |
| Equity | 10/15 | €454,066 | €124,863 | -€329,203 | -72.5% |
| Contributions | 10/11 | €1,400 | €1,400 | = | 0.0% |
| Reserves | 13 | €452,666 | €123,463 | -€329,203 | -72.7% |
| Distributable reserves | 133 | €452,666 | €123,463 | -€329,203 | -72.7% |
| Amounts payable | 17/49 | €160,426 | €274,639 | +€114,213 | +71.2% |
| Amounts payable after more than one year | 17 | €11,633 | - | -€11,633 | |
| Financial debts | 170/4 | €11,633 | - | -€11,633 | |
| Amounts payable within one year | 42/48 | €147,627 | €274,639 | +€127,012 | +86.0% |
| Trade debts | 44 | €4,398 | €5,138 | +€740 | +16.8% |
| Suppliers | 440/4 | €4,398 | €5,138 | +€740 | +16.8% |
| Taxes, remuneration and social security | 45 | €143,229 | €166,929 | +€23,700 | +16.5% |
| Taxes | 450/3 | €143,229 | €164,318 | +€21,089 | +14.7% |
| Remuneration and social security | 454/9 | - | €2,611 | +€2,611 | |
| Other amounts payable | 47/48 | - | €102,572 | +€102,572 | |
| Accrued charges and deferred income | 492/3 | €1,166 | - | -€1,166 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,263 | €11,302 | +€39 | +0.3% |
| Other operating charges | 640/8 | €1,184 | €1,006 | -€178 | -15.0% |
| Gross operating margin | 9900 | €447,370 | €240,007 | -€207,363 | -46.4% |
| Operating profit (loss) | 9901 | €434,923 | €227,698 | -€207,224 | -47.6% |
| Financial income | 75/76B | €6,086 | €8,215 | +€2,129 | +35.0% |
| Recurring financial income | 75 | €6,086 | €8,215 | +€2,129 | +35.0% |
| Financial charges | 65/66B | €179 | €928 | +€749 | +419% |
| Recurring financial charges | 65 | €179 | €928 | +€749 | +419% |
| Profit (loss) for the period before taxes | 9903 | €440,829 | €234,985 | -€205,844 | -46.7% |
| Income taxes | 67/77 | €106,262 | €54,188 | -€52,074 | -49.0% |
| Profit (loss) for the period | 9904 | €334,567 | €180,797 | -€153,770 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €334,567 | €180,797 | -€153,770 | -46.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.